Market Trends of United Arab Emirates Sunflower Oil Industry
Rising Consumption of Refined Deodorized Sunflower Oil Supporting Market Growth
Consumers are observed to be increasing their consumption of healthier oils like refined sunflower oil due to its high vitamin E content and neutral taste, acting as an ideal base for cooking. A rising rate of urbanization and an increasing number of people getting engaged in the workforce have made an active lifestyle a necessity. Hence, refined oils like sunflower oil have found a higher preference over other rich and fatty oils. Refined sunflower oil is scientifically proven to have anti-inflammatory properties that might potentially prevent chronic inflammatory diseases such as rheumatoid arthritis, osteoarthritis, and bronchial asthma.
Rising concerns of heart diseases are influencing potential consumers to opt for sunflower oil as it lowers the risk of cardiovascular diseases due to the combination of monounsaturated and polyunsaturated fats with low saturated fat levels. According to the Emirates Cardiac Society, in September 2023, health experts revealed that heart disease is estimated to cause 18 million deaths worldwide annually, and in the UAE, it is the main cause of death from non-communicable diseases. The mortality rate is higher in the UAE as compared to other countries. The UAE’s mortality rate has been 340 per 100,000 cases, double that in other countries. Refined sunflower oil is observed to lower bad cholesterol levels in the body and prevent heart attacks, thereby gaining potential in the market for heart-health-conscious consumers.
Additionally, organic food consumption is anticipated to drive the demand for non-GMO and zero trans fat refined sunflower oils. For instance, Cargill Incorporated offers an extensive range of non-GMO verified sunflower oils, including Odyssey 100 High Stability Sunflower Oil, Cargill Non-GMO Mid-Oleic Sunflower Oil, and Clear Valley Expeller Pressed High Oleic Sunflower Oil, to gain the upper hand in the Middle East, including the United Arab Emirates.
Tourism Boosting Demand for the Foodservice Segment
The tourism industry of the United Arab Emirates is one of the most important in the economy, having contributed nearly AED 167 billion or 9% of the total GDP in the year 2022, as per the Ministry of Economy. In October 2023, the United Arab Emirates ranked fourth globally in terms of international tourist spending, with visitors spending AED 224 billion in the country in that year. The United Arab Emirates surpassed prestigious countries such as France, Italy, Turkey, and Germany in international tourist spending, ranking just behind the United States, Spain, and the United Kingdom.
With the growth of tourism, the foodservice segment is also witnessing a positive impact. This further leads to the development of new hotels and restaurants in the cities most prominently visited by tourists. The growth in the foodservice industry is taking a consumer-centric approach. McDonald’s Corp., Yum! Brands Inc., Restaurant Brands International Inc., and Inspire Brands Inc. are some of the chained consumer foodservice companies that have a presence in the United Arab Emirates. Significant changes leading to the development of foodservice are expected to increase the demand for sunflower oil due to its high nutritional value and smoking point.
